H.R. 6204 (112th): Investment Adviser Examination Improvement Act of 2012

Jul 25, 2012 (112th Congress, 2011–2013)
Died (Referred to Committee)
Maxine Waters
Representative for California's 35th congressional district
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Last Updated
Jul 25, 2012
6 pages
Related Bills
H.R. 1627 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Apr 18, 2013


This bill was introduced on July 25, 2012, in a previous session of Congress, but was not enacted.

Introduced Jul 25, 2012
Referred to Committee Jul 25, 2012
Full Title

To amend the Investment Advisers Act of 1940 to require certain investment advisers to pay fees to help cover the costs of inspecting and examining investment advisers under such Act.


No summaries available.

2 cosponsors (2D) (show)

House Financial Services

Capital Markets and Government Sponsored Enterprises

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Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

Investment Adviser Examination Improvement Act of 2012 - Declares the sense of Congress that the Securities and Exchange Commission (SEC) should increase the number and frequency of examinations of investment advisers.
Amends the Investment Advisers Act of 1940 to direct the SEC to collect an annual fee from investment advisers subject to SEC inspection or examination to defray the cost of such inspections and examinations. Exempts certain state-regulated investment advisers from the requirement to pay an annual fee.
Prescribes a fee calculation formula. Requires the SEC to make the formula publicly available on its website along with the factors used to reach the fee determination.
Requires the Comptroller General to audit biennially the use of such fees, SEC reviews of the fee formula, and any adjustments to it.
Makes such fees available to the SEC, without further appropriation or fiscal year limitation, to pay costs associated with inspecting and examining investment advisers.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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